Egypt Advances Structural Reforms and Economic Transformation Programme to Boost Private Sector Growth Egypt: Egypt’s Minister of Planning and Economic Development, Ahmed Rostom, reaffirmed the government’s commitment to structural reforms under the State Ownership Policy Document and government IPO programme, expanding long-term financing, diversifying funding sources and broadening the tax base digitally. Despite slower global growth and regional geopolitical tensions, the

Abu Dhabi Branded Residences Market Enters Major Growth Phase UAE: Abu Dhabi is entering a major growth phase in branded residences, with 31 projects, including 5 completed and 26 in the pipeline, making it the sixth-largest city market globally and its pipeline joint third with Cairo. According to Global Branded Residences’ The Brand Standard, 92% of Abu Dhabi’s pipeline and 83% of its total market are standalone developments, compared with 37% globally, while branded reside

Oman’s Construction Sector Targets Growth with US$120 Billion Project Pipeline Through 2030 OMAN: Oman’s construction sector is expected to benefit from a US$120 billion project pipeline through 2030, driven by investments in infrastructure, tourism, logistics and industrial development. Project Oman 2026, scheduled for November 2–4 at the Oman Convention & Exhibition Centre in Muscat, will connect international suppliers with local industry stakeholders. Organised by IFP Gro

RAK Ceramics Appoints Leonardo De Muro as Group CMO UAE: RAK Ceramics has appointed Leonardo De Muro as Group Chief Marketing Officer, effective 1 October 2026. De Muro previously served as Corporate Vice President, International Business Development at the company and has more than 30 years of experience in the ceramics and building materials industry. In his new role, De Muro will oversee RAK Ceramics’ global brand positioning, marketing strategy and innovation activities,

UAE-EAEU Trade Pact Targets $50bn Annual Trade by 2032 UAE: The UAE-Eurasian Economic Union (EAEU) Economic Partnership Agreement has entered into force, granting preferential access across more than 86% of tariff lines covering around 96% of the value of current goods trade between the UAE and Armenia, Belarus, Kazakhstan, Kyrgyzstan and Russia, with the deal targeting nearly USD 50bn in annual trade by 2032. The agreement, signed on June 27, 2025, reduces or eliminates cust

real estate Saudi Arabia-based Abdullah Al Othaim Investment Company has launched a dedicated real estate development arm, Al Othaim Developments, with plans to invest more than SAR 16 billion (US$4.27 billion) in around 10 projects over the next two years. According to the company, the planned developments will include approximately 8,000 residential units across several cities in Saudi Arabia. Al Othaim Developments will focus on creating integrated destinations that combin

Daikin and Almoayyed Contracting Group Inaugurate Experience Center in Bahrain Bahrain: Almoayyed Contracting Group, in collaboration with Daikin Middle East and Africa, inaugurated the Daikin Experience Center in Bahrain, strengthening their strategic collaboration established in 2024, when Almoayyed Contracting Group became a non-exclusive authorised distributor of Daikin products and solutions in the country. The centre showcases Daikin’s split and central air-conditioning

Samsung and LG Strengthen Electric HVAC and B2B Smart Home Presence South Korea/Saudi Arabia: Samsung Electronics and LG Electronics are expanding their presence in electric HVAC and smart home markets, with Samsung showcasing its EHS All-in-One and EHS Heat Pump Boiler in South Korea and LG opening its first B2B-dedicated AI Home experience space in Riyadh, Saudi Arabia. Samsung’s EHS Heat Pump Boiler achieves a SCOP of 4.9, provides heating at temperatures as low as -25°C a

Saudi Construction Costs Rise as Hormuz Disruption Affects Supply Chains Saudi Arabia: Construction costs in Saudi Arabia are increasing as disruption around the Strait of Hormuz has shifted the movement of materials from sea to road transport, according to industry experts cited by AGBI. Materials that were previously shipped through ports such as Dammam are now being routed through Jeddah or Yanbu before being transported by road to project sites. Saudi Contractors Authorit

Iran Faces Growing Economic Strain as U.S. Sanctions and War Hit Trade Iran: Iranian leaders acknowledged the economic toll of the war with the U.S., with the government prioritising inflation, employment, market management, domestic production and reducing dollar dependence, while President Masoud Pezeshkian said foreign trade had fallen nearly 35% due to U.S. sanctions and a naval blockade. Annual inflation reached 66%, although Iran sold about 90 million barrels of oil dur

Saudi Ceramics Secures Pallet Supply Contract for Riyadh Warehouse SAUDI ARABIA: Saudi Ceramics Company has signed a US$ 0.8 million (SAR3.07 million) purchase order with Sadr Logistics Services Company to supply wooden pallets for a storage-system project at its central warehouse in Riyadh. The order forms part of a wider US$ 3.5 million (SAR13 million) project, taking the total value of contracts between the companies to US$ 4.3 million (SAR16.07 million), excluding VAT. Th

Building Saudi Arabia's Ministry of Municipalities and Housing issued more than 34,000 building permits across the Kingdom during the first half of 2026, reflecting continued construction activity and improvements in the country's permitting process. Residential projects accounted for the majority of approvals, with more than 28,000 permits issued between January and June. The ministry also granted over 5,000 commercial building permits and more than 1,000 permits for governm

YKA and Interplast Form Strategic Partnership to Advance HVAC Solutions BAHRAIN: YK Almoayyed and Sons (YKA) has entered into a strategic partnership with Interplast, a subsidiary of the Harwal Group, to strengthen HVAC infrastructure development in Bahrain. The collaboration will combine YKA’s engineering expertise, project capabilities and distribution network with Interplast’s manufacturing of cable management systems and specialised materials. The partnership will focus o

SANIPEX GROUP Partners with Slimstock to Enhance Inventory Planning Across the UAE and GCC UAE: SANIPEX GROUP has partnered with Slimstock to enhance inventory planning across the UAE and wider GCC, supporting its continued growth as a luxury bathroom and sanitaryware distributor. Through the implementation of Slim4, the company will automate replenishment planning, improve supply chain visibility across its distribution centre and 12 showrooms, and optimise inventory managem

HVAC Saudi Arabia: Samsung Electronics will supply more than 1,000 high-efficiency heating, ventilation, and air conditioning (HVAC) units to over 100 mosques across eight major cities in Saudi Arabia, including Riyadh and Ramah. The company will install its ceiling-mounted 360 Cassette air conditioning systems, engineered to meet the unique cooling requirements of large religious facilities. The units provide uniform air distribution across expansive indoor spaces while oper

Kuwait Introduces New Energy Efficiency Requirements for Water Heaters Kuwait: Kuwait's Ministry of Electricity, Water and Renewable Energy has introduced a new technical code establishing minimum standards for the design and installation of water heating systems in residential and non-residential buildings. The regulation applies to all new buildings and extensions that increase electrical load, with the objective of improving energy efficiency and reducing hot water energy

The Shift Toward Centralised Cooling Systems in the Middle East Cooling accounts for as much as 70–80% of peak building energy demand across the Gulf, a figure that underscores just how central HVAC decisions are to real estate development, urban planning, and energy policy in the region. Against this backdrop, the structural shift away from standalone split and window units toward centralised air-conditioning systems such as VRF, ducted systems, chillers, AHUs, and packaged

Saudi Arabia Maintains Inflation Below 2% Despite Regional Pressures Saudi Arabia: Saudi Arabia recorded consumer price inflation of 1.7% year-on-year in April 2026, according to Kamco Invest’s Gulf Cooperation Council inflation update. The figure remained below 2% despite increasing global inflationary pressures linked to higher energy, food and transport costs following the conflict in the Middle East. The report noted that housing-related costs remained the main contributo

LG Electronics Appoints Ahmad Abed to Lead Air Conditioning Operations Across MEA Region MEA: LG Electronics has appointed Ahmad Abed as Chief Operating Officer of its ES Company Air Conditioning division for the Middle East and Africa region. Abed brings nearly 20 years of HVAC industry experience within LG, most recently serving as Gulf Sales Director. The appointment supports LG’s strategy to expand its HVAC business across the MEA region, where demand for energy-efficient

Oman Oman: Oman has introduced a new investment opportunity for an air conditioning manufacturing plant as part of a broader industrial development initiative aimed at expanding domestic manufacturing capabilities. The proposed facility requires an investment of approximately OMR 6.54 million (US$17 million) and will focus on producing energy-efficient cooling units for both domestic and regional markets. The project is included in a package of manufacturing opportunities sup